Sirius XM Holdings Inc. (NASDAQ:SIRI) to Issue Quarterly Dividend of $0.03

Sirius XM Holdings Inc. (NASDAQ:SIRI) declared a quarterly dividend on Thursday, April 25th, RTT News reports. Investors of record on Friday, May 10th will be given a dividend of 0.0266 per share on Wednesday, May 29th. This represents a $0.11 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Thursday, May 9th.

Sirius XM has increased its dividend by an average of 22.0% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Sirius XM has a payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Sirius XM to earn $0.31 per share next year, which means the company should continue to be able to cover its $0.11 annual dividend with an expected future payout ratio of 35.5%.

Sirius XM Stock Down 4.4 %

SIRI stock opened at $3.02 on Friday. Sirius XM has a twelve month low of $2.98 and a twelve month high of $7.95. The firm has a market cap of $11.62 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 1.07 and a beta of 1.04. The business has a 50 day moving average of $3.89 and a 200 day moving average of $4.61.

Sirius XM (NASDAQ:SIRI) last issued its earnings results on Thursday, February 1st. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Sirius XM had a negative return on equity of 42.54% and a net margin of 14.05%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.30 billion. On average, research analysts expect that Sirius XM will post 0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on SIRI. Benchmark cut their target price on Sirius XM from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Wednesday, March 27th. Wells Fargo & Company dropped their price target on Sirius XM from $4.50 to $3.00 and set an “underweight” rating on the stock in a research note on Monday, April 1st. Citigroup upgraded Sirius XM from a “sell” rating to a “neutral” rating and dropped their price target for the stock from $4.10 to $3.30 in a research note on Wednesday. StockNews.com began coverage on Sirius XM in a research note on Sunday, April 21st. They issued a “hold” rating on the stock. Finally, Guggenheim began coverage on Sirius XM in a research note on Thursday, March 14th. They issued a “neutral” rating and a $4.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.67.

Insider Buying and Selling at Sirius XM

In other Sirius XM news, insider Joseph A. Inzerillo sold 107,611 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total transaction of $527,293.90. Following the sale, the insider now directly owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Joseph A. Inzerillo sold 107,611 shares of Sirius XM stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $4.90, for a total value of $527,293.90. Following the sale, the insider now directly owns 746,816 shares of the company’s stock, valued at $3,659,398.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Meyer sold 800,000 shares of Sirius XM stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $4.92, for a total value of $3,936,000.00. Following the completion of the sale, the director now directly owns 1,091,472 shares in the company, valued at $5,370,042.24. The disclosure for this sale can be found here. Insiders own 0.79% of the company’s stock.

About Sirius XM

Sirius XM Holdings Inc operates as an audio entertainment company in North America. It operates in two segments, Sirius XM, and Pandora and Off-platform. The company's Sirius XM segment provides music, sports, entertainment, comedy, talk, news, traffic and weather channels, and other content, as well as podcast and infotainment services on subscription fee basis; and live, curated, and exclusive and on demand programming services through satellite radio systems and streamed through applications for mobile and home devices, and other consumer electronic equipment.